Economics for UPSC: Syllabus, Books & Tips

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Economics for UPSC

Economics is a significant part of the syllabus for various competitive examinations like PSC Exams, IPS Exam, BPSC Exam, UPSC Exams, etc. Varied topics from Indian Economics are asked in the IAS Preliminary as well as mains examination. It is also available as an optional subject for various administrative examinations. Therefore, if you plan to crack any of the toughest exams in India, having a thorough knowledge of the subject is mandatory. Here is a comprehensive blog covering the essentials of Economics for UPSC!

Wondering How to Prepare for UPSC? Have a look at these NCERT Books for UPSC!

Economics Syllabus for UPSC

To get crack through the highest paying government jobs in India, it is important to have a comprehensive understanding of Economics for UPSC syllabus. Glance through the detailed list of topics mentioned below; 

Main topics  Sub Topics 
Economic Growth and Development  The basic concept and definition of economy and economics. Its uses and transfer of resources, distributive effects, macro and microeconomic policy, micro-macro balance, the distributive impact of economic policies, development versus growth, determinant of growth and development, concepts such as HPI/MPI, HDI, PQLI, GEM, GDI/GII, TAI, Green index, sustainable development, India’s ranking in the various indices.
Poverty  Definitions, causes, distribution-deprivation, income versus calories, measurement of poverty, the status of poverty, eradication programmes, poverty and resource policy, tribal rights and issues, livelihood mission.
Inclusion Definition, relevance, types, financial inclusion, recent initiatives.
Demographics Census Data, populations by gender, by state, by age group, socio-economic status, caste, religion, literacy levels, etc. Trends in human development – interstate comparison, etc.
Fiscal policy Definition, component, receipts, revenue and capital account, tax revenue, expenditure, budget.
Features of Indian Economy  DIvision of economic activities, poverty, unemployment, HDR, measures to eradicate poverty
Basic Economic Indicators  National income, price index, production, population, foreign trade
Population  Growth, census, consumption pattern (energy)
National income Concepts, Methods of Calculation
Agriculture Crops, seasons, agricultural credit agencies, Kisan Credit agencies, land reforms, insurance, green, white, blue, yellow revolutions, irrigation
Industry Industrial policies (1948, 1956, 1991), small scale industries, key industries, industrial sickness, the different committees, disinvestment, PSU policy, industrial finance
Foreign trade Composition, direction, EXIM policy, WTO, the balance of payments, measures to improve foreign trade
Money and Banking Money market, credit control (different rates), commercial banks, cooperative banks, NBFCs, committees, SEBI, stock market developments, the insurance industry, new banking sector reforms, money supply measures, inflation, deflation
Planning commission Five-year plans
Public finance Finance commission, taxation, deficit financing, public spending and debt

Important Economics for UPSC Books 

Following the correct study material and books is quintessential when you are preparing for such a prestigious examination. Here is a list of books that can help you cover all the important Economics topics for UPSC: 

Name of the Book Authored  Links
Indian Economy Mishra-Puri, Dutt-Sundaram Click Here to Buy!
The Economics of Development & Planning M. L. Jhingan Click Here to Buy!
International Economics H.G. Mannur Click Here to Buy!
Public Finance H.L. Bhatia Click Here to Buy!
Money and Banking S.B.Gupta  Click Here to Buy!
Macroeconomic Theory M. L. Jhingan  Click Here to Buy!
Modern Microeconomics A. Koutsoyiannis  Click Here to Buy!
Indian Economy Ramesh Singh Click Here to Buy!
The Indian Economy Sanjiv Verma Click Here to Buy!
Dictionary of Economics  Graham Bannock; T.E. Baxter, Ray Rees Click Here to Buy!
Economic Growth and Development  Mayer and Baldwin Click Here to Buy!
Economics Paul A. Samuelson Click Here to Buy!
Economics Choice  Koutsweanik Click Here to Buy!
Growth and Development  M L Jhingan Click Here to Buy!
International Economics Bo Soderston Click Here to Buy!
International Economics H.G. Mannur or Salvatore Click Here to Buy!
International Trade  Bo Soderston Click Here to Buy!
MacroEconomic Analysis  Edward Shapiro Click Here to Buy!
Modern Banking R.S. Sayers Click Here to Buy!
Monetary Theory and Public Policy Kenneth Kurihara Click Here to Buy!
National Income Accounting  Neethu Click Here to Buy!
Outline of Monetary Economics A.C.I. Day Click Here to Buy!

How to Prepare for Economics for UPSC?

Here are the important tips that are going to help you in preparing Economics for UPSC exams: 

  • In order to impress your evaluators and justify your answers, make use of important graphs wherever possible.
  • Make use of data, figures and statistics while writing your answers. 
  • In order to rationalize your answers, write numerous authentic examples. 
  • Read Newspapers like Economic Times, The Hindu, The Indian Express, The Yojna, Civil Service Times etc. 

FAQs

Which book is better for Economics UPSC?

There are many books available online and offline. Some of the best books are Indian economy by Mishra-Puri, Dutt-Sundaram, Modern microeconomics by A. Koutsoyiannis and International Trade by Bo Soderston.

Is economics useful for UPSC?

It is an important part of UPSC GS and also among the optional subjects in UPSC. It has a good success rate among candidates.

Which NCERT books to read for IAS?

Some of the important NCERT books are:
1. NCERT Class VII – Our Past -I
2. NCERT Class VIII – Our Past II and III
3. NCERT Class IX – India and the Contemporary World – I

Which Indian economy book is better for UPSC?

Indian Economy by Ramesh Singh and The Indian Economy by Sanjiv Verma are some of the best books for UPSC

Is NCERT enough for IAS prelims?

NCERT will help you in preparation of basics but for in-depth and more practice you should take help from sample paper and previous year question paper as well.

We hope our blog provided all the essential information on Economics for UPSC. If you have any questions regarding courses, careers and universities abroad for Economics, get in touch with Leverage Edu and we will provide perfect solutions to your problems!

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